Ripple hopes to revolutionize the global liquidity of money by permitting transfers across the globe to happen at record speeds and fees. Ripple has reduced the old system of transferring money via SWIFT or Western Union to something of the past.
After proving itself to be a great platform, Ripple is now fixated completely on collaborating with banks, presenting them with a more effective and lucrative way to direct immediate payments globally.
Note! You need Bitcoin or Ethereum before buying Ripple!
Ripple is a cryptocurrency limited to crypto to crypto exchanges. This means that to purchase Ripple, we must buy it using Bitcoin or Ethereum, NOT Dollars or Euros.
If you are unfamiliar with the process of converting fiat currency (dollars/euros/yen/etc.) to Bitcoin or Ethereum, check out our guide on buying bitcoins or on buying Ethereum. After, you can come back here and continue the tutorial. If you are already a crypto expert, skip to later in the page where we discuss this process in detail.
The easiest places to buy Ripple are:
Buying Ripple on Binance
Binance is a relatively new exchange, only existing since 2017, but has impressed it’s users on several occasions with its remarkably low fees (.05%!) and amazing security system.
To get started buying Ripple on Binance you will need to sign up for their exchange. They have a fast and easy signup process, that accepts users from all countries with no verification needed.
After signing up, go to the navigation bar and mouse over funds and then click Deposits. This is where you will find every single cryptocurrency Binance has to offers deposit addresses.
As stated earlier, to buy Ripple we need to purchase it with Bitcoin or Ethereum, so depending on which cryptocurrency you are using, you will need to locate that currencies deposit address.
Highlighted in red are MY deposit addresses for Bitcoin and Ethereum on Binance. You will need to locate your addresses, and have them copied for the next step, where we will be learning how to do a transaction in cryptocurrency.
To send Bitcoin or Ethereum from Coinbase, you will need to go to the accounts tab and click send. In this case I am sending Bitcoin to my Binance address, but the process is the exact same for Ethereum.
After our cryptocurrency arrives to Binance, we will need to go to the corresponding trading pair of the currency we sent. If we sent Bitcoin, then we want to go to the BTC/XRP trading pair. If we sent Ethereum, then we go to the ETH/XRP trading pair.
After going to either page, you will be taken to a screen similar to this. To purchase Ripple, you will need to enter an order in the bottom middle section. You can click the “Market” tab where you can buy Ripple at the going rate.
If you want to choose your own price, use a limit order. Enter the amount of coins you want to buy or click 100% to do the max amount that your balance allows. To get a good idea of Ripples price, you can use the chart or the order book (highlighted in red). Once you have entered the conditions of your order, click Buy Ripple and wait for it to be filled!
After your order is filled, you may want to send your Ripple to a secure wallet. To do so, mouse over funds, click withdrawals and type Ripple into the bar. You will be prompted for a Ripple address to send your coins. If you are sending a Ripple transaction for the first time to a new address, make sure it contains 20 or more Ripple.
We recommend the Ledger Nano S as it is one of the most secure wallets out there, but you have a few other options. Learn more about Ripple wallets here.
Buying Ripple on Changelly
Changelly is another service that allows Ripple to be purchased easily. In order to use either of these services, you will need Bitcoin or Ethereum.
Changelly never actually hold your coins, so you need to have a Ripple wallet. An exchange wallet like Binance with 20 Ripple in it can be used, but the best and most secure option for storing Ripple is the Ledger Nano S (Review).
In order to prevent massive amounts of unused Ripple addresses, Ripple requires each address to have a minimum of 20 Ripple in it. As long as your first Ripple transaction to your wallet is worth more than 20 Ripple then you are good to go.
After setting up your Ripple wallet, go to either site and select your input currency. The input currency is the coin you are sending to the address in exchange for Ripple. I recommend choosing Bitcoin or Ethereum as your input, but technically ANY coin on their site can be used. For our output, we are going to choose Ripple.
You will now be prompted for two fields:
- XRP Address: Your Ripple Address
- Destination Tag (Optional): A tag for including notes about the transaction
Next, you need to send Bitcoin, or whatever input currency you chose to the deposit address provided by Changelly. Afterwards, the deal is processed and the funds are sent to the address.
Buying XRP on Bitstamp
Here are the trading pairs provided by Bitstamp
In order to purchase Ripple on Bitstamp, you will need to generate and authenticate an account with Bitstamp.
Using the link entitled ‘Deposit’, the user should deposit funds in the front page of the account. Once the deposited funds have been credited to your Bitstamp account, you are ready to buy Ripple!
Buying XRP on Kraken
Kraken is another highly reputable cryptocurrency exchange that can be used to buy Ripple. Visit the Kraken page and create an account. After confirming the account, log into the account and deposit funds. You can do this by clicking on the deposit link, and entering any necessary information (mode of payment, card number, etc).
Ripple on Kraken is not directly sold; in order to buy it, the user first needs to buy XBT. Place the order to buy XBT, and then go to the XRP/XBT pairing where Ripple is sold. Enter an order at the going rate and wait for it to be filled! Congrats, you now own Ripple.
Ripple is speedy, with transactions settling in under four seconds. It can be put to use to purchase ordinary items, with the assumption that it is accepted by both traders and users globally. Furthermore, Ripple is highly scalable, as it frequently manages a thousand transactions per second.
Buying Ripple tokens and buying into this concept, is like buying into the future. Someone who acquires the XRP is likely to earn enormous returns on investment, more so if Ripple continues to progress in the banking sector.
How to purchase Ripple tokens?
Reputed financial institutions and predictors have predicted a solid future for Ripple. The major cause behind Ripple’s big success has been the state of the art technology employed by the platform, a factor that has majorly contributed to the many achievements of this platform. These achievements and widespread attention have encouraged Ripple to increase 3800% in value in a span of less than a year.
So how to board this train which seems destined for success? Just like other major cryptocurrencies, Ripple is accessible on numerous different exchanges. Analyzing the Ripple website, while keeping in mind the processes behind the purchase of other major cryptocurrencies, here are some ways to purchase XRP, which is Ripple’s cryptocurrency token, through a few of those exchanges.
How many Ripple coins are there to be bought?
There are around 100 billion XRP tokens existing at the moment. Ripple holds a whopping 61% of it. Since the company holds the majority of the tokens, in order to further strengthen investor assurance, Ripple has sealed up 55 billion XRP with 55 canny contracts. One after the other, each contract (each contract holds 1 billion XRP) expires once-a-month through the time period of 54 months.
Till date, Ripple has used up about 300 million XRP every month for the past 18 months in order to manage expenditures. This operative transparency ought to give cynical investors a cause to believe that Ripple is a long-term player in this game and investors will not profit from selling their assets, thus plunging the worth of XRP.